The rise of females in franchising
Morne Cronje, head of franchising at FNB Business says, “Women have the ability to use their time, energy and resources effectively to meet and achieve business goals. This trait, in my view, is the cornerstone for successful women in franchising. In a country like South Africa, the growing involvement of women in franchising is vital, considering that women make up the majority of our population.”
Currently, women dominate and operate successfully in four franchise industries:
• Education - women are attracted to this space because they are not only looking for profits but a community and economic impact.
• Slimming salons - women-led franchises in this space tend to specialise in weight loss products and services. Currently, there are good business opportunities in this component of the health sector, as more people are becoming health conscious.
• Accessory and arts - more women are starting to become thought leaders in this business, setting trends and staying ahead of popular accessories.
• Beauty salons and nail bars - one of the industries pioneered by women, now men are also increasingly making use of these services.
Despite the limited awareness about the important role and great strides that women continue to make in franchising, it is important for more women to consider exploring opportunities in this sector since it is one of the most resilient ones. The success rate of a franchise business is far better than a traditional start-up or small business. Consequently, franchising is one of the few industries in South Africa that are showing steady contribution to the economy and employment.
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